Most migrants move from developing to developed nations
Indicate whether the statement is true or false
TRUE
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Steel production creates pollution. If a tax is imposed on steel production equal to the marginal external cost of the pollution it creates, ______
A. steel producers will cut pollution to zero B. the deadweight loss created by steel producers will be cut to zero C. the market price of steel will rise by the amount of the tax D. steel producers will continue to produce the inefficient quantity of steel
Refer to Figure 16-5. Suppose the firm represented in the diagram decides to act as a monopolist and charge a single price. What is the profit maximizing quantity produced and what is the price charged?
A) Q = 480 units; P = $16 B) Q = 240 units; P = $28 C) Q = 560 units; P = $12 D) Q = 320 units; P = $24
In a purely competitive market, the Herfindahl Index would have a value approaching
a. 1. b. 100. c. 0. d. infinity.
Figure 2-1 illustrates the trade-off for a particular student between time spent studying per week and income per week from working part-time. What is the opportunity cost for this person of moving from point a to point b?
a.
$5 of income per week
b.
$10 of income per week
c.
two hours of studying per week
d.
$10 per hour of studying per week
e.
$20 of income per week